Speak Out California will be focusing between now and June on the ballot initiatives and issues that will be on the June ballot. We will provide in-depth analysis of each as well as overviews. We'll also be doing regular updates on who's funding what and how much is being spent.
This initiative prohibits tax assessors from re-evaluating taxes on new construction that is done for the purpose of seismically retrofitting - making the building earthquake-safe. The construction would not result in increased property taxes until the building is sold.
What changes: According to the Legislative Analyst's Office, currently some properties are exempt for 15 years from tax increases based on earthquake retrofits. Upgrades on unreinforced masonry buildings get a 15-year exclusion while other buildings are excluded until sold.
The League of Women Voters has no recommendation on this proposition.
who/what is funding this initiative?
Leave a comment